Bengaluru, Mar 27 (KNN) Addressing potential impact of automation and Artificial Intelligence (AI), a workshop was conducted by NITI Aayog and ABB India, to discuss various regulatory, financial and policy concerns relating to adoption of automation by Micro, Small and Medium Enterprises (MSMEs).

The workshop organized at the ABB Ability Innovation Center (AIC) here featured MSME entrepreneurs from the selected sectors including pharmaceuticals, textiles, electrical and electronics, food processing and manufacturing.

Technology was a common thread running through the entire workshop, with working groups focused on issues faced by the MSMEs.

Senior Adviser, NITI Aayog, Anna Roy while addressing the workshop, said, "At NITI Aayog we are no longer working on one-way policy plans, we have wide and deep interactions with those for whom the policies are intended to focus on.”

Roy added, “At ABB Ability Innovation Center we have brought all stakeholders of MSME value chain to identify the roadblocks they face in growth, be it in business models, financing or skilled labor,

Managing Director, ABB India, Sanjeev Sharma said, "India can leapfrog and show the way when it comes to innovative AI applications. Working with MSMEs and the eco-system is critical for the industrial and manufacturing adoption of such technologies. With its established history of working with them for several decades and driving the change with new digital solutions, ABB would be the perfect catalyst."

Further, Sharma said, “With the right enablement and innovative business models, it could add significant value to the MSME manufacturing sector and help them navigate a continuously evolving landscape of regulatory frameworks, quality imperatives, climate change, global commodity and business uncertainties."

The workshop explored innovative business and economic models (plug and play, cluster approach, shared manufacturing approach) to accelerate technology adoption by MSMEs.

It was also the culmination of a partnership between the two organizations to work together and make key sectors of Indian economy ready for a digitalized future and realize the potential of AI, big data and digital connectivity, according to the statement. (KNN/JM)